SHELL Pilipinas Corp. swung to a net loss of P929.20 million in the first nine months of 2026, from a net income of P1.31 billion a year earlier, as increased costs due to continued geopolitical tensions in the Middle East and volatile global energy markets pressured earnings.
In a quarterly report, the company said elevated product costs and import premiums, compounded by a weaker peso, persistent inflation and severe weather that affected mobility and customer demand had impacted its bottom line.
Net sales in the nine months, however, grew to P232.90 billion from P171.72 billion a year earlier as the company increased domestic pump prices in response to higher imported product costs.
Shell Pilipinas said cost of sales increased to P219.70 million from P154.98 million last year, as global fuel prices went up to around $126 per barrel by Sept. 30, 2026, from about $81 per barrel at end-September 2025.
The company recognized an impairment loss of P409.40 million during the period.
For the third quarter, the company said it returned to positive core earnings, reducing its year-to-date core net loss to P1.7 billion.
“The third quarter marked an important improvement, but our nine-month results show that we still have work to do,” President and CEO Lorelei Quiambao-Osial said.
“Our focus is clear: strengthen earnings, restore cash generation and build a more competitive business,” she added.
Shell Pilipinas shares on Wednesday slipped P0.08, or 101 percent, to settle at P7.85 each.
